Owning an investment property can be a lot to manage, and not everybody with the capital has the time and skill to do it. Many landlords encounter surprises along the way that become costly, hard-earned lessons.
Maybe they don’t know what questions to ask when screening tenants or how to do home repairs when something breaks. Let’s check out some of the ways professional property management companies make life easy for landlords.
A+ Tenants, Soon
Knowing you have a responsible, mature tenant helps landlords sleep at night. Someone who will pay rent on time, keep the property in good physical condition, and respect the neighbours.
Leaders like Property Management Toronto have a four-stage process to screen tenants, so you find an excellent one in less time and don’t have to forgo any rent. Here’s what that process looks like:
- Employment letter: confirms that the applicant works where they say they do and has ample monthly income to cover rent.
- Credit check: understanding how they treat major financial obligations is a window into how they’ll treat rent payments.
- Reference check: getting friends, relatives, and past landlords on the phone is an excellent way to get information about the applicant that paper documents may miss
- Tenant application: the company will sort through them and present the best ones to property owners, who can freely accept whichever one they like best.
Great tenants are deeply rooted members of their community. Get one in your home, and you’ll get long-term, stable rent payments and enjoy peace of mind.
One of the biggest burdens that landlords face is the need to sacrifice their evenings, weekends, and vacations. If something needs to be repaired at their income property, who else is going to handle it? Landlords don’t want to spend every moment wondering if there’ll suddenly be a call about their investment property.
Now, professional property managers will take phone calls any time, every day. You can reclaim your free time while offering tenants responsive services. Enjoy peace of mind knowing your property will remain in great condition.
When something needs to be fixed at your income property, do you know how to do it or who to call? Professional property managers have close relationships with qualified, vetted, licensed contractors who do all kinds of handy work around the home.
Anytime a repair is required, leading companies give property owners options at different price brackets, so they can choose whichever option they prefer. The repair work will be excellent, and the pricing is transparent.
Landlords don’t need any special skills, nor do they need to scramble to find a contractor they hope is reputable.
Buying a property for someone else to live in can be stressful and difficult. If you go it alone, it requires various skills, anxieties to overcome, and taking on costly and unexpected surprises. Get professional help to manage your property to enjoy your free time freely, provide tenants with excellent service, and keep your home in excellent condition.